A year ago we bought Discover Financial Services (DFS) when it was trading at a deep discount to our estimate of fair value. Discover was trading at a deep discount because of the pandemic market panic and fears of the… Read More
The Coronavirus market panic created an opportunity for us to buy companies we’ve wanted to own at great prices. Discover Financial Services (DFS) was one of them. Consumer financial stocks were hit hard during the market panic. Discover Financial dropped… Read More
Bonds are essentially loans. You give a company or some other entity money, they pay you interest, and eventually give you your original investment